Retail news

• Laura Ashley agrees emergency funding deal with Wells Fargo

  19-02-2020 20:18
  
  British retailer secures vital £20m loan agreement with US bank as it fights for survivalLaura Ashley has staved off the threat of imminent collapse after securing access to sufficient funds to meet its immediate funding needs.The clothing and furnishing retailer said talks with the US bank Wells Fargo over the terms of a £20m loan facility had concluded successfully. Related: How to save Laura Ashley: relaunch all its beautiful vintage dressesContinue reading...
  
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• 5 minutes with Guillaume Chesneau, Managing Director, Nespresso UK

  19-02-2020 18:48 via retailgazette.co.uk
  
  Tell me a bit about Nespresso story.
  Nespresso was founded more than 30 years ago on a simple and revolutionary idea – to enable anyone to create the perfect cup of espresso coffee, just like a skilled barista. With a simple touch of a button, you can enjoy fresh, great tasting coffee, cup after cup.
  In the last three decades, we have grown from pioneer to leader, known for our quality but also, importantly, the sustainability of our product. Sustainability is in our DNA and today, we are
  
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• Revo urges government to accelerate business rates review

  19-02-2020 18:05 via retailgazette.co.uk
  
  // Revo calls on government to accelerate its commitment to review the business rates system
  // Letter to the new Chancellor sets clear expectations for radical reform
  // Revo represents all stakeholders in the £360 billion retail property sectorRevo has written a letter to the government urging it to “act swiftly and radically” in its promise to fundamentally review the business rates system.
  Ahead of the upcoming budget on March 11, the retail property organisation called on
  
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• Laura Ashley grabs funding lifeline in survival battle

  19-02-2020 17:55
  Shares in struggling retailer rebound after main shareholder agrees deal
  
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• Laura Ashley shares bounce back after securing £20m loan

  19-02-2020 15:42 via retailgazette.co.uk
  
  // Laura Ashley secures £20m loan from Wells Fargo
  // Follows reports that its main shareholder MUI Asia was in talks with lenders over the weekend
  // Laura Ashley’s shares rose by 0.35p to 2p, a 21% increase, in response to the newsLaura Ashley has rebounded from two days of struggle as the retailer won permission to use a loan to fund its daily operations.
  The fashion and lifestyle retailer confirmed today that talks with lender Wells Fargo over the terms of a £20 million loa
  
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• John Lewis, Polo Ralph Lauren & HomeSense top YouGov’s Retail rankings

  19-02-2020 15:39 via retailgazette.co.uk
  
  // John Lewis, Polo Ralph Lauren and HomeSense are the most recommended brands by their consumers
  // John Lewis comes first for high street; Polo Ralph Lauren most advocated fashion brand & HomeSense tops general retail rankingsYouGov has named John Lewis, Polo Ralph Lauren and HomeSense the brands most recommended by their consumers across the high street retail, fashion and general retail sectors.
  YouGov’s 2020 Recommend rankings reveal the retailers with the highest percentage of th
  
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• Karl Lagerfeld launches Pac-Man-style game offering weekly shopping sprees to top players

  19-02-2020 15:35 via chargedretail.co.uk
  
  Karl Lagerfeld has become the latest luxury fashion retailer to launch a branded video game to promote its new Pixel Collection.
  The Maison Karl Lagerfeld game lets users take control of the late fashion icon’s beloved cat Choupette in a Pac-Man-style 8-bit game on the retailer’s website and in-store and via Instagram.
  Choupette must escape a pack of neighbourhood dogs and collect pixel points and Karl Koins while navigating a digital maze based on the brand’s headquarters at M
  
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• New immigration system won’t meet retail’s needs – BRC

  19-02-2020 15:14 via retailgazette.co.uk
  
  // BRC says the new immigration system proposal “fails” to meet needs in retail
  // The new immigration system will take effect from January 1, 2021, once freedom of movement with EU ends
  // Migrants will now have to gain a visa through a revised points-based systemLeading industry groups have criticised the government’s new immigration system, arguing that it does not meet the needs of the of the retail sector.
  In a statement, the BRC said the new system – which will come
  
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• 20 Forces Shaping E-Commerce in 2020

  19-02-2020 15:00 via retailgazette.co.uk
  
  Did you know that e-commerce still only makes up 24% of all retail sales?* That means there’s a lot more revenue to come. But with the industry in a constant state of evolution, any brand or retailer that wants to survive and thrive in this landscape needs to be ready to pivot at a moment’s notice.
  Those that fail to adapt, on the other hand, risk falling into administration as the high street continues to struggle. Now more than ever, sellers will need to stay future-focused.
  D
  
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• Inflation grows to highest rate in 6 months

  19-02-2020 13:02 via retailgazette.co.uk
  
  // Consumer Price Index in January grew to 1.8% in January, compared to 1.3% in December, according to ONS inflation figures
  // Retail Price Index was 2.7% in January, up from 2.2% in DecemberThe basket of goods that average UK households buy has increased faster than expected after inflation increased to the highest rate in six months.
  The latest data from the ONS shows that the rate of the Consumer Price Index (CPI) increased to 1.8 per cent in January, up from 1.3 per cent in December.
  This i
  
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• Digital retail payments backlash reaches UK as chancellor warned cashless society will “put our economy at risk”

  19-02-2020 11:26 via chargedretail.co.uk
  
  The UK’s shift towards a cashless economy is threatening to “leave millions behind or put our economy at risk” as our cash system nears collapse.
  A new report from a group called ‘Access to Cash Review’ has urged the new chancellor of the exchequer Rishi Sunak to include measures to protect access to physical cash in the upcoming March budget.
  According to the report more than 8 million people in the UK still rely on cash for day-to-day transactions and would strugg
  
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• Immigration: firms will need to train more UK workers, says Priti Patel

  19-02-2020 10:20
  
  ‘Economically inactive’ Britons could do jobs in sectors where there are shortages under new system, home secretary saysCompanies will need to train more British workers to fill vacancies when the new immigration system kicks in requiring foreign workers to have qualifications and the ability to speak English, Priti Patel, the home secretary, has said.In a round of television and radio interviews, she said 8 million people between the ages of 16 and 64 were “economically inacti
  
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• Asics ends year with sales drop as apparel fails to deliver

  19-02-2020 09:54 via retailgazette.co.uk
  
  // Asics ends 2019 with sales decline
  // For the full-year ended December 31, sales dropped 2.2%Asics has recorded a sales drop in its full-year report as marketing spend hit an all-time high and sales in Europe declined.
  For the full-year ended December 31, the Japanese sportswear retailer saw sales drop 2.2 per cent to ¥378.05 billion (£2.64 billion), which it blamed on weak sales in its apparel and equipment category.
  In Europe, sales fell as much as 9.5 per cent and were down 3.7 p
  
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• Intu plans to boost new CEO bonus by 250% despite falling share price

  19-02-2020 09:33 via retailgazette.co.uk
  
  // Intu plans to increase CEO & CFO bonuses
  // Intu told shareholders it wants to increase the potential share awards in its long-term incentive plan to 250% of salary, up from 200%Intu plans to boost the potential bonuses of new chief executive Matthew Roberts and chief financial officer Robert Allen, despite falling share prices, rental income and asset values.
  The landlord cut share-based rewards for its chief executive and chief financial officer positions in 2019, but is now talking to
  
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• Nike reshuffles boardroom

  19-02-2020 09:08 via retailgazette.co.uk
  
  // Nike makes changes to senior board
  // Heidi O’Neill has been appointed as president for consumer and marketplace, Andy Campion as COO, and Matthew Friend as CFONike has made changes to its senior leadership team in a bid to accelerate its strategy.
  The sports goods giant has appointed Heidi O’Neill as president for consumer and marketplace, Andy Campion as chief operating officer, and Matthew Friend as chief financial officer.
  O’Neill is currently the president of Nike Direc
  
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• Beales reveals list of final 11 stores set to close

  19-02-2020 08:26 via retailgazette.co.uk
  
  // Beales to close final 11 stores after failing to secure a buyer
  // Earlier this month, it said it would be closing 12 of its 23 stores
  // Beales fell into administration on January 20Beales is set to close its remaining 11 stores, after no “deliverable offers” have been received.
  Administrators KPMG announced earlier this month that the department store chain would be closing 12 of its 23 stores, including their flagship outlet in Bournemouth.
  Beales fell into administration
  
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• WHSmith excludes Daily Telegraph from railway station shops

  19-02-2020 05:00
  Battle escalates over newspaper retailers’ shrinking margins
  
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• WHSmith excludes Daily Telegraph from rail shops

  19-02-2020 05:00
  Battle escalates over newspaper retailers’ shrinking margins
  
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• Skechers to launch store at Telford’s new Fashion Quarter

  19-02-2020 01:00 via theretailbulletin.com
  
  Skechers is to open a store within the new Fashion Quarter at Telford Shopping Centre. The footwear retailer has taken a ten year lease on a... View Article
  
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• Pets at Home CEO: ‘It’s finally time high-street retailers stop selling stuff’

  19-02-2020 01:00 via theretailbulletin.com
  
  Guest content by Retail Connections: The primary goal of any retailer is to sell stuff, right? Well, not according to Peter Pritchard, the animal-loving CEO of Pets at... View Article
  
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• Endless sells the Antler luggage brand

  19-02-2020 01:00 via theretailbulletin.com
  
  Private equity firm Endless has sold the Antler luggage brand to ATR Holdings, an associated company of Strandbags. Endless acquired Antler in 2017 after a period... View Article
  
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• Asda like-for-like sales down in fourth quarter

  19-02-2020 01:00 via theretailbulletin.com
  
  Asda has posted a 1.3% decline in like-for-like sales in the three months to 31 December. In a statement, the supermarket said trading in its fourth... View Article
  
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